Occupied Japan toys are from the period late 1945 until 1948
After World War II, Germany and Japan tin toy manufacturing had just about run its course due to a lack of supplies. After the war the Allies noting that both countries needed to rebuild, aided them in re-starting their toy manufacturing.
In the beginning, these Japanese firms copied popular toys which were made in other countries. However by the 1950s they started making original designs that would sell in the US. The toy designers used cars, planes, cartoon characters and other objects popular in America.
Most of the toys produced during this time spanned the gamut from very simple to very intricate. These toys have become highly collectible today.
See also toys Made in US Zone Germany.
What's it worth? Take a look at this Occupied Japan price guide: sold listings for a value indication.